Sovereign Assurance Company Limited, ASB Bank Limited, Sovereign Services Limited, CBA Asset Finance (NZ) Limited, CBA Funding (NZ) Limited, CBA Dairy Leasing Limited v Commissioner of Inland Revenue - SC 14/2014

Civil Appeal – Income Tax Acts 1994 and 2004 – Whether the Court of Appeal erred in upholding the Commissioner’s reassessments of the applicants’ income – Whether the Court of Appeal erred in concluding that the accrual rules in subpt EH of the Income Tax Act 1994 were of exclusive application in determining the tax treatment of the commission arrangements – Whether the Court of Appeal erred in finding that the commissions when received and the commission repayments when paid were not assessable income and deductible expenditure respectively – Whether the Court of Appeal erred in concluding that the Commissioner was entitled to an award of costs.[2013] NZCA 652 CA 506/2012